NEW YORK, April 12 — Most Southeast Asian stock markets eased today as worries of potential US military action in Syria soured risk appetite.
Broader Asian shares fell after Wall Street fell overnight as US President Donald Trump warned Russia yesterday of imminent military action in Syria over a suspected poison gas attack, raising the prospect of direct conflict over Syria between the two world powers backing opposing sides in the seven-year-old civil war.
Tensions in the Middle East intensified as Saudi Arabia said its air defence forces intercepted three ballistic missiles fired at Riyadh and other cities by Yemen’s Houthis.
“The markets in Asia are caught between forward-looking positive from China economic growth and current risk aversion due to Middle East tensions,” said Stephen Innes, head of trading for Asia-Pacific at Oanda.
Singapore shares shed 0.2 per cent, with Singapore Telecommunications Ltd dropping 1.5 per cent.
Singapore’s central bank is expected to tighten monetary policy in April for the first time in six years, with economic growth seen solid enough to shift away from a stance associated with periods of acute weakness.
The central bank’s semiannual monetary policy statement and data on first-quarter gross domestic product are due tomorrow.
Vietnam shares extended losses, dropping 1.2 per cent to an over two-week low, after having shed 2.6 per cent in the previous session.
FLC Faros Construction JSC slumped 6.7 per cent to its lowest since August 28. Indonesian shares fell 0.9 per cent, after three sessions of gains. Unilever Indonesia Tbk PT shed as much as 1.8 per cent, while Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT fell 2.3 per cent.
Meanwhile, Philippine shares rose 0.5 per cent, led by gains in the real estate and telecom sectors. SM Prime Holdings Inc climbed 1.8 per cent, while PLDT Inc rose 2.4 per cent. — Reuters
